Why Analysts Still Back ServiceNow (NOW) With $1,300 Target Despite Pullback

ServiceNow, Inc. (NYSE:NOW) is one of the Trending AI Stocks on Wall Street. On August 4, Citizens JMP analyst Patrick Walravens reiterated a “Market Outperform” rating on the stock with a $1,300.00 price target.

The firm met with ServiceNow’s investor relations team on Thursday, coming away optimistic on the stock. In particular, they observed the latest demonstration of the AI Control Tower product and AI Agents in AI Agent Studio.

The team included VP of Investor Relations Darren Yip, Senior Manager of Investor Relations Andrew Libert, and investor relations members Christine Bancroft and Alexander Yuan.

“We saw the latest demonstration of the AI Control Tower product as well as a demonstration of AI Agents in AI Agent Studio, and after the stock has decreased 14% year to date versus an increase of 6% for the Russell 3000.”

ServiceNow, Inc. (NYSE:NOW) is a technology company that offers a cloud-based software platform for automating business workflows within an enterprise.

While we acknowledge the potential of NOW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.